Brown Brothers Harriman & Co. Sells 296 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Brown Brothers Harriman & Co. decreased its position in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 26.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 811 shares of the technology company’s stock after selling 296 shares during the period. Brown Brothers Harriman & Co.’s holdings in Benchmark Electronics were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BHE. UMB Bank n.a. lifted its stake in Benchmark Electronics by 65.7% during the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after purchasing an additional 272 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Benchmark Electronics during the 2nd quarter worth $41,000. CWM LLC boosted its stake in Benchmark Electronics by 81.9% in the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock valued at $44,000 after buying an additional 498 shares in the last quarter. Quarry LP grew its position in Benchmark Electronics by 172.5% in the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after acquiring an additional 873 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Benchmark Electronics during the second quarter worth about $61,000. 92.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BHE has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday. Needham & Company LLC boosted their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Benchmark Electronics Stock Performance

Benchmark Electronics stock opened at $48.05 on Friday. The business has a 50 day moving average of $45.71 and a 200-day moving average of $42.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. Benchmark Electronics, Inc. has a 1 year low of $24.75 and a 1 year high of $52.57. The company has a market capitalization of $1.73 billion, a P/E ratio of 27.94 and a beta of 0.97.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The company’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS.

Benchmark Electronics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a yield of 1.42%. Benchmark Electronics’s payout ratio is presently 39.53%.

Insider Buying and Selling at Benchmark Electronics

In other news, SVP Rhonda R. Turner sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total value of $281,880.00. Following the transaction, the senior vice president now owns 47,991 shares in the company, valued at approximately $2,254,617.18. The trade was a 11.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeff Benck sold 24,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the completion of the sale, the chief executive officer now directly owns 424,173 shares in the company, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.